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Views: 27 DOM: 33 Updated: 09.05.24 Posted: 08.14.24 Status: Active

Summary

Price $7,412,000
Built/Renov 2024
Tenant Raising Cane's (GL)
Cap Rate 4.25%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,831
Lease Start 01-01-2025
#Units 749
Price/SF $1,934.74
Expiration 06-30-2040
Tenant Type Fast Casual/Rest.
NOI $315,000
R. Term 15.9
Ownership Ground Lease
Rent/SF $82.22
Increases 10.0%/5/yrs
Pop 5Mi 118,961
Lot/AC 1.50
Options 4/5yrs/10%
AHHI 5Mi $95,585

Lease Highlights

  • Brand-new 15-year ground lease with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Raising Cane's is strategically located on Nuevo Road, with access to 10,120 vehicles passing by daily. The property is positioned near the on/off ramp for I-215 Freeway, which experiences 103,000 VPD, and features prominent monument pole signage for high visibility. The immediate area is anchored by well-known national tenants such as Walmart, Ross Dress for Less, Burlington Stores, Bath &...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Raising Cane's
  • Guarantor:Corporate
  • Company:Raising Cane's Restaurants LLC
  • # Units:749
  • Stock:Private

About Tenant

Founded by Todd Graves in 1996 in Baton Rouge, Louisiana, Raising Cane’s is one of the fastest-growing quick-service restaurant chains in the U.S. Renowned for its fresh, never frozen chicken...


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Listing Broker

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